Argentina Budget Bill Puts 2015 Growth at 2.8% -- Update

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

By Ken Parks BUENOS AIRES--The Argentine government submitted its 2015 budget bill to Congress on Monday, forecasting an economic rebound of 2.8% following growth of just 0.5% this year. "We expect a year in which international trade rebounds," Economy Minister ...

Lafarge Sells Russian Unit to Buzzi Unicem to Cut Debt

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

By Inti Landauro PARIS--French cement maker Lafarge SA (LG.FR), which is in process of merging with Swiss rival Holcim Ltd. (HOLN.VX), said Tuesday it has sold a Russian unit to Buzzi Unicem as part of its effort to cut debt. ...

Australian House Prices Stir Worry for Reserve Bank

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

By James Glynn SYDNEY--Australia's central bank is becoming increasingly concerned by the country's soaring house prices, minutes of this month's policy meeting published Tuesday showed. In its severest warning yet on house prices, the Reserve Bank of Australia said surging ...

Asian Shares Slightly Lower

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

Stocks in Japan were slightly lower Monday, as nervousness rose that the U.S. Federal Reserve would signal a clearer path for raising interest rates and that investors would divert funds to invest in Alibaba Group's debut later this week. The ...

Russia May Tap Rainy Day Fund Soon

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

MOSCOW--Russia may tap its reserve fund next year for the first time in six years as the country faces increasing capital flight and decreasing oil prices, a finance ministry official said Tuesday. Russia's flagging economic growth and stubbornly high inflation ...

Argentina Budget Bill Puts 2015 Growth at 2.8%

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

BUENOS AIRES--The Argentine government submitted its 2015 budget bill to Congress on Monday, forecasting an economic rebound of 2.8% following growth of just 0.5% this year. "We expect a year in which international trade rebounds," Economy Minister Axel Kicillof told ...

UK Inflation Rate Dips Unexpectedly In August

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

By Nicholas Winning and Matthew Cowley LONDON--The U.K.'s inflation rate dipped unexpectedly in August, suggesting the Bank of England will be in no hurry to raise interest rates even though the economy is growing at a solid rate, official data ...

Sterling Suffers as Scotland Vote Weighs on Investors

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

By Josie Cox The British pound continued to weaken Tuesday, with investors displaying last-minute nerves ahead of Scotland's imminent referendum on independence, the outcome of which analysts say is still too close to call. In early European trade, sterling was ...

CURRENCIES: Dollar Flat Against Rivals Ahead Of FOMC

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

By Hiroyuki Kachi The dollar was basically flat against rival currencies in Asian trade Tuesday, as investors remained reluctant to make major moves ahead of the closely-watched Federal Open Market Committee policy meeting. As of late Asian trade, the dollar ...

China Foreign Direct Investment at Four-Year Low

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

BEIJING--China's foreign direct investment fell in August to its lowest level in more than four years, in the latest sign that the world's second-largest economy is losing steam. While foreign-investment figures tend to fluctuate from month to month, the reading ...

RBA Says Sustained Fall in Currency Needed to Spur Investment

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

SYDNEY--Reserve Bank of Australia Assistant Governor Chris Kent said Tuesday a sustained decline in the Australian dollar is needed to ignite business investment in the country. Answering questions at a business conference, Mr. Kent said any decline would provide a ...

Sterling Suffers as Scotland Vote Weighs on Investors

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

The British pound continued to weaken Tuesday, with investors displaying last-minute nerves ahead of Scotland's imminent referendum on independence, the outcome of which analysts say is still too close to call. In early European trade, sterling was 0.3% lower against ...

RBA Says A$ May Be Weighing on Investment

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

SYDNEY--Australia's central bank said it was optimistic that new business investment would help lift economic growth, but added that the still-high Australian dollar may be holding it back. "If history is any guide, eventually the period of elevated risk aversion ...

China August FDI Down 14% on Year

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

BEIJING--China attracted $7.2 billion of foreign direct investment in August, down 14.0% from a year earlier, the Ministry of Commerce said in a statement Tuesday. The figure was down from July's $7.8 billion, which was 16.95% lower from a year ...

Dollar Flat Against Rivals Ahead of FOMC

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

By Hiroyuki Kachi The dollar was basically flat against rival currencies in Asian trade Tuesday, as investors remained reluctant to make major moves ahead of the closely-watched Federal Open Market Committee policy meeting. As of 0450 GMT, the dollar was ...

UK Inflation Rate Dips Unexpectedly

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

LONDON--The U.K.'s inflation rate dipped unexpectedly in August, suggesting the Bank of England will be in no hurry to raise interest rates even though the economy is growing at a solid rate, official data showed Tuesday. The annual rate of ...

China Set to Step Up Investment in India

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

NEW DELHI--China's president is expected to pledge billions of dollars in investments for India this week as Beijing looks to gain influence with a regional heavyweight at a time when Asia's balance of power is in flux. During a three-day ...

South Korea Expects Economy to Grow 4% Next Year

TODAY: Sept. 16, 2014 PUB DATE: Sept. 16, 2014

By Kwanwoo Jun SEOUL -- South Korean Finance Minister Choi Kyung-hwan on Tuesday ruled out the possibility of financial turmoil in the country even if the U.S. Federal Reserve increases its policy rates and possibly triggers capital flight from emerging ...